Full-service, global, automated, supply chain platform with an integrated cryptocurrency payment system utilizing blockchain technology.
- Introductory Video
- Global Trade
- Instant Money Transfers to over 200 Countries
- Full-Feature & Automated Supply Chains
- Morpheus Network Hybrid Security & Team
- Why the Morpheus Network?
- MORPHEUS NETWORK PLATFORM
- MORPHEUS NETWORK SMART CONTRACT INTERFACE
- PLATFORM TESTING / QUALITY CONTROL & MANAGEMENT:
- WHO BENEFITS FROM (MOTIVATION FOR) THE MORPHEUS NETWORK (WITH SCENARIOS)
- MORPHEUS TOKEN UTILITY
- ESCROW PAYMENT SERVICES
- WHY ETHEREUM?
- TECHNICAL DATA
- TOKEN SYSTEMS
- FINANCIAL DERIVATIVES AND STABLE-VALUE CURRENCIES
- TOKEN SALE
- TRANSPARENCY – MORPHEUS NETWORK AND THE ETHEREUM BLOCKCHAIN
- ETHEREUM ERC20 TOKEN
- MORPHEUS PROJECT CHARTER
- MORPHEUS BUSINESS CASE COMPLETION CHECKLIST
- MORPHEUS RISK ASSESSMENT PROCEDURE
- TERMS AND CONDITIONS
The document was last updated: February 21, 2018. The information in this document is subject to change periodically.
The world economy relies on fast, efficient, international importing and exporting. However, running a global supply chain business contains various inefficiencies. For example, sending a bulk shipment of flowers overseas can generate as many as 200 paper documents from a dozen vendors. The document that certifies goods, such as flowers, to be hygienic and free of insects must be stamped and signed by numerous agencies, and then transported separately by air to the import destination because customs agents require original documents to help prevent fraud. One small error on paper documents like these can result in delays that spoil a shipment or hold up payments. Likewise, multiple parties, such as exporters and importers, insurance companies, customs agents, terminal operators, freight forwarders and carriers, use a bill of lading. Typically, the bill of lading is sent by courier overnight after the seller receives word that the shipment has arrived.
The Morpheus Network can remove the complexity from this process. Any time a document needs to be shared with multiple institutions, putting that record on the blockchain enables real-time updates that can be seen, but not tampered with or inadvertently altered. This can create significant savings in time and cost while at the same time, ensuring a strong level of trust.
The Morpheus Network was established by industry veterans to address global supply chain inefficiencies, resulting in a full-service, global, automated, supply chain platform for the global trade industry, utilizing blockchain technology. We recognize blockchain as a technology to be leveraged across supply chains to see breakthroughs in automation, optimization, security, visibility and forecasting.
Automation is achieved utilizing Smart Contracts, driving the supply chain with predetermined, automated work contracts, shipping & customs documents as well as automated international payments. The layering of other Blockchain technologies, as a part of , or an objective in the Smart Contract, is another key feature further enabling supply chain automation. This involves the integration with other blockchains such as using the Walton Blockchain to signify the arrival of a shipment with an RFID scan, or using Sia to verify the transfer of data as a single objective in a supply chain Smart Contract.
At scale, the Morpheus Network has the potential to save the industry billions of dollars. According to the World Economic Forum’s report Enabling Trade: Valuing Growth Opportunities, reducing barriers within the international supply chain could increase worldwide GDP by almost 5 percent and total trade volume by 15 percent. This equates to a global economic boost of up to 3 trillion USD!
Instant Money Transfers to over 200 Countries
The Morpheus Network enables suppliers, manufacturers and exporters from around the world to receive their local currency in over 200 countries globally. Conversely, purchasing importers can send their own country’s currency to finance purchases in other countries. This is accomplished through integration with SWIFT which allows a direct transfer of funds into over 1600 banks. Therefore, the network allows any company or individual to complete any complex international purchase and shipment, no matter the scale of the transaction, smoothly, easily and instantly.
The Morpheus Network is the first platform designed to execute large money transfers to over 1600 banks internationally, using the newest and fastest blockchain technology, as an objective in a Smart Contract for globally transacting businesses. It is designed to be used by importers and exporters replacing traditional bank wire transfers which are expensive, slow, unsecured and simply outdated.
To give an example, China is currently the most expensive major currency corridor, according to the World Bank, with the average cost of sending $1000.00 (£700.00) from the UK to China standing at a staggering US $98.00 (£68.60) or 9.8%. Compare this with the small Morpheus Network fee of 1%.
Full-Feature & Automated Supply Chains
Morpheus Network simplifies and automates the logistics needed for any complex, international shipment for any company or individual. This is achieved by our talented team containing shipping, customs, banking and accounting experts with deep knowledge and extensive experience in their respective industries. The result is a “FULL SERVICE” IMPORT AND EXPORT SYSTEM abiding by all customs laws and regulations globally. Also included is the automated generation of digital, ORIGINAL shipping documentation and contracts for the first time ever which are predetermined and templated.
Another advantage of the Morpheus Network which increases importer or buyer assurance, is our escrow payment service. Based on the predetermined Smart Contract, with escrow payment in place, the funds will only become available to the exporter following completion of the Smart Contract’s objectives. Complete trust in a seller is achieved since all the objectives in the Smart Contract must be completed prior to the automated releasing the funds to the merchant!
The Morpheus Network also incorporates the “layering” of other blockchain technologies to be included as necessary objectives in a given Smart Contract. These objectives may include a necessary data transfer using Sia, or a Walton RFID entry, or even a Ripple transaction which is integrated into the Smart Contract and sets off the rest of the automated objectives.
In addition, the Morpheus Network is using Artificial intelligence (AI) to further optimize any supply chain by gathering vast amounts of logistical data off of the blockchain. These findings allow container shipping ports to be planned and routed in advance and as necessary based on global traffic, port delays, weather as well as many other factors and sources of data. AI is also being used to prepare compliance documentation for an import, generated by the Morpheus Network, by more accurately estimating port arrival times.
Furthermore, our user rating system gives prospective Morpheus Network users assurance that they are dealing with a reputable and experienced business partner.
Morpheus Network Hybrid Security & Team
Morpheus Network utilizes a Permissioned Blockchain which provides a hybrid between the ‘lower-trust’ model of Public blockchains and the ‘single highly-trusted entity’ model of Private blockchains. The Morpheus Network Permissioned Blockchain maintains the privacy of user’s data, without consolidating power with a single organization.
A trusted Morpheus Network Consortium will be established to control access to the blockchain and will play a role in maintaining the blockchain in a decentralized manner.
Document records on the blockchain can be accessed only by authorized participants; this can be all participants or only those that need a particular portion of the data. Document ownership and access can be anonymous yet securely identified between partners who require verification. In short, it can be widely shared and protected at the same time.
Documents are stored in an off-chain container which allow Morpheus Network Smart Contracts to harness the full power of the blockchain’s capabilities while protecting private data. This ensures the correct balance of privacy and transparency. One feature of blockchains is data immutability; once data has been written to a blockchain nobody, not even a system administrator, can change it. This benefits the Morpheus Network users by creating a secure audit trail of all documents and transactions to ensure compliance with local regulations.
Noam Eppel, one of our founding team member has a speciality in information security, having run a successful security company for 5 years. He has taught web security at a college in Toronto and created an online security course used by companies across North America. He has also provided security consulting services on behalf of leading technical companies including IBM.
Additionally, to help secure funds raised during the pre-sale and Token Sale, all funds will be converted to Ethereum and stored in a multi-signature wallet. A multisig wallet is a technique that requires multiple people to approve of the release or transfer of funds. The multisig wallet keys will be held by founders of the Morpheus Network team as well as members of the advisory board from companies including Deloitte LLP, TD Canada Trust and Toronto General & Western Hospital Foundation.
Lastly, our team is filled with experts in their perspective fields from a functional standpoint including blockchain, global trade, international customs regulation, accounting compliance, payment processing platforms, legal, information security, website and DApp development. Our team includes talent and contributors from:
- Deloitte LLP
- TD Canada Trust
- Willson International
- Clean Forest Solutions Inc.
- Atlas Cargo
- The Smart Cube
- McLeod Law LLP
- Toronto General and Western Hospital Foundation
Why the Morpheus Network?
Other blockchain and non-blockchain based services available, such as TenX, Monaco, Paypal, Alipay and Wechat, don’t offer the same security and functionality when it comes to international transfers associated with the import and export industry. Generating and storing original documentation on the blockchain such as the manufacturing or work contracts and shipping forms (commercial invoices, packing lists, insurance documents, bills of lading) is a key feature to the network and not a part of the retail, payment processing world whether written on blockchain technology or not. The same is true for many major functions of the Morpheus Network such as automating supply chains, escrow smart contract payments, integrating other blockchain technologies, automated shipping documentation generation, import/export tutorial services and more.
The Morpheus Network links traditional, international transacting with the newest, blockchain technology!
|4||Secure Payment systems||100%||-||-||100%||100%||100%||100%||100%|
|7||Smart Contract Automation||100%||-||-||-||100%||-||-||-|
|8||Digitizaiton of Documents||100%||-||-||-||-||-||-||-|
|10||Layering of other blockchain technologies||100%||-||-||-||-||-||-||-|
MORPHEUS NETWORK PLATFORM
The Morpheus Network features a simplified and streamlined dashboard interface. Interacting with the network by revising or adding Smart Contract objectives in your supply chain is designed to be intuitive and easy to navigate.
You can easily view the flow of the funds and documentation within any transaction as well as utilize any of the Morpheus Network features such as escrow payment services and document digitization.
It also features the permission settings which establish which documents or Smart Contract objectives are kept private, and which ones are visible and shareable with your shipping agents, customs brokers and freight forwarders.
MORPHEUS NETWORK SMART CONTRACT INTERFACE
PLATFORM TESTING / QUALITY CONTROL & MANAGEMENT:
Only the highest level of quality will be attained though testing and maintenance. Testing of the platform is at the same level as Canadian National banks thanks to our advisor, Donna Stoppard, from TD Canada Trust.
- SIT = system integration testing – typically the first type of testing and is completed in a “lower” environment. It’s ensuring the blockchain code and Morpheus Network platform will be integrated to create an end user friendly interface. At this testing stage, the platform is not live, but simply verifies that the technology built (code, logic etc.) is functioning as expected.
- BAT = business acceptance testing – completed after SIT is complete and all the SIT defects that have been identified during SIT are fixed. BAT is for the Business. SIT tests the technology (eg. logic behind the scenes), and BAT tests the business related specifications (eg. checking that mandatory fields have an asterisk, and that proper error messages appear if a mandatory field is left blank.) BAT is also completed in the “lower environment”.
- PCOE = Performance testing – completed in a production environment. PCOE tests the performance of the Morpheus Network. What can cause the system to crash? What can bog the speed of the network? Each factor will be taken into account during the PCOE testing phase.
- PAT = production acceptance testing – this is the final stage of testing that is completed and is done in a production environment, but the network would still inactive during this testing phase. Testing is completed to ensure there are no defects when promoting the code from a lower level to a production environment and the performance and expectations for all test case are as expected. After the PAT testing is completed, the Morpheus Network will be activated!
WHO BENEFITS FROM (MOTIVATION FOR) THE MORPHEUS NETWORK (WITH SCENARIOS)
Importers and Exporters from around the world benefit from the Morpheus Network.
SCENARIO #1 – SIMPLE SUPPLY CHAIN STRUCTURE – “Fleuriste équatorien”
Joe has family back in Ecuador. For 4 generations, his family has grown the world’s most beautiful Heliconia flowers. When Joe moved to France, he opened up his own flower shop, ”Fleuriste équatorien”. The Heliconia flower was Joe’s #1 seller, but he couldn’t keep it in stock. The simple shipping documentation for setting up shipments and clearing customs caused delays which were fatal on many occasions for the Heliconia, which require lots of sun and heat.
Flowers shipping from Ecuador to France
Payments involved in structure:
Back to Ecuador from France (EUR to USD)
The Morpheus Network employs Smart Contract system to pre-empt your business needs. The Heliconia flower shipment to Paris, France is a simple, automated company structure which includes automated documentation for shipments and customs brokerage, as well as payments back home for the Heliconia flower production process. The Morpheus Network employs automated Smart Contract technology to ensure the delays Joe has seen in the past, are a thing of the past.
SCENARIO #2 – AVERAGE SUPPLY CHAIN STRUCTURE – “Anna’s T’s”
Anna lives in Moscow and started her own graphic T-shirt company with common Russian phrases written in Spanish. It was a hit, but she couldn’t keep up the supply of T-shirts. Her online store was a huge success in Spain, Argentina and the US. Only the logistics of getting the T-shirts into Moscow were holding her back.
Issues with the logistics include:
- Slow transmission of wire transfer payments to suppliers
- Slow transfer of original shipping documentation causing shipment delays
- Improper documentation filing
- High banking fees to process bank transfers, increasing costs
- Terrible conversion rates, increasing costs with every global money transfer
- No current rating system in place (payment delays from distributors, supplier delays)
Here is the supply chain structure:
T-shirts shipping from Taiwan to Moscow, Russia
Graphics are custom and printed in Moscow and sold by distributors around the world. The completed graphic T-shirts are shipped from Moscow, Russia to:
Payments involved in structure:
Supplier (RUB to TWD)
From Argentinean Distributor (ARS to RUB)
From Spanish Distributor (EUR to RUB)
From US Distributor (USD to RUB)
The Morpheus Network will automate this entire supply chain structure. This includes:
- Generating new contracts for the Taiwanese supplier when inventory is running low
- Automated payments to Taiwanese supplier directly into their bank account in Taiwanese Dollars
- Creation, digitization and sharing all original shipping documents to be seamlessly handled by customs brokers and freight forwarders with permissible access.
The Morpheus Network automates Anna’s global, T-shirt empire while saving some major, past expenses for her business. Victoria!
*(conversion is rate is 0%, 1% Morpheus transaction fee)
SCENARIO #3 – COMPLEX SUPPLY CHAIN STRUCTURE – “ Maple Eco-Friendly Car Company”
Meet Maple Eco-Friendly Car Company based out of Sarnia, Ontario. They produce eco-friendly vehicles using the best part suppliers from around the world.
They also have distributors who sell their cars and SUVs globally.
The logistics in their business structure is very complex and time consuming. Here are the hurdles Maple Eco-Friendly Car Company is dealing with:
- Slow transmission of wire transfer payments causing manufacturing delays
- Slow transfer of original shipping documentation causing shipment delays
- Improper documentation filed, depending on country receiving the shipment, causing fines and delays
- High banking fees to process bank transfers increasing costs
- Terrible conversion rates increasing costs with every global money transfer
- Manufacturing delays due to suppliers with no current rating system in place
The Morpheus Network will solve all these problems with the current, global transaction system.
Here is the supply chain structure:
Parts, shipping first to Canada, then to China, are sourced from:
Parts, shipping directly to China for assembly, are sourced from:
Detroit, United States
The Eco-Friendly Cars are sold by distributors around the world. The fully assembled equipment is shipping directly from China to:
Sao Paulo, Brazil
Riyadh, Saudi Arabia
Johannesburg, South Africa
Los Angeles, United States
Payments involved in structure:
To Belarusian Supplier (CAD to BYR)
To Swedish Supplier (CAD to Krona)
To German Supplier (CAD to EUR)
To Indian Supplier (CAD to INR)
To US Supplier (CAD to USD)
To Chinese Supplier & Assembly (CAD to CNY)
From Australian Distributor (AUD to CAD)
From Brazilian Distributor (BRL (Real) to CAD)
From Norwegian Distributor (Krone to CAD)
From Saudi Arabian Distributor (SAR (Riyal) to CAD)
From South African Distributor (ZAR (Rand) to CAD)
From Spanish Distributor (EUR to CAD)
From US Distributor (USD to CAD)
With over a dozen different shipments (all involving varying shipping and customs rules and regulations) and over a dozen currency conversion payments, it would take hundreds of hours of manpower to keep up with all the documentation and policies of each delivery and payment. Our Network simplifies, and automates the entire process using the power of Smart Contracts!
Once you have your system in place including:
Customs & Shipping agents
All the actions required will be AUTOMATED thanks to predetermined Smart Contracts. Completion of one objective activates the next part of the Smart Contract and so on and so on. The result
Setting up shipping and customs – automated
Manufacturing contracts and funding – automated.
Distributor orders and payments to over 1600 banks – automated
Using Smart Contracts and the Ethereum blockchain, the Morpheus Network allows AUTOMATION of all these shipments, and all these currency conversion payments, saving the user money and time with added security on every global, business transaction!
MORPHEUS TOKEN UTILITY
“MORPH” Token Powers the Morpheus Network.
The token is a “value” based utility. The Network’s Microsoft Dynamics 365 ERP system is integrated with SWIFT for direct international payments.
The Morpheus Tokens can be attained converting from virtually any fiat currency, or over 74 different cryptocurrencies directly through the platform and our Shapeshift integration. The tokens give users access to the Morpheus Network. A crucial objective in a Smart Contract of any global supply chain are international payments. The Morpheus Token’s value is based on the real time financial derivative of the currency needed to complete a payment as a Smart Contract’s objective. Our integration with Swift allows us to send payments directly into the bank account of over 1600 banks globally in the specific currency required (fiat or cryptocurrency) by the Smart Contract.
ESCROW PAYMENT SERVICES
Payments are held in by the Morpheus.Network until a contract is completed with uploaded shipping documentation and loading confirmations or other specified Smart Contract objectives. This feature increases the level of security for purchases when dealing with new suppliers, as well as for suppliers knowing the funds are secure prior to contract completion. All these payments, using Swift to send funds directly into over 1600 banks worldwide in the receiver’s local currency, would be automated via Smart Contract.
Ethereum is an open-source, public, blockchain-based distributed, Turing-complete computing platform which can run Smart Contracts. Smart Contracts are applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Ethereum also provides a cryptocurrency token called “Ether”, which can be transferred between accounts and used to compensate participant nodes for computations performed.
Ethereum could be described as highly programmable digital money. Imagine automatically sending money from one person to another but only when a certain set of conditions are met. For example an individual wants to purchase a home from another person. Traditionally there are multiple third parties involved in the exchange including lawyers and escrow agents which makes the process unnecessarily slow and expensive. With Ethereum, a piece of code could automatically transfer the home ownership to the buyer and the funds to the seller after a deal is agreed upon without needing a third party to execute on their behalf.
Many of the slow, insecure centralized systems we use today can be built in a decentralized manner on the Ethereum platform. Decentralization is important because it eliminates single points of failure or censorship. Decentralized platforms cut out the middlemen which can ultimately lead to lower costs for the user.
How does Ethereum differ from other blockchains such as Bitcoin? Ethereum has a number of advantages:
- In Ethereum the block time is set to 14 to 15 seconds compared to Bitcoins 10 minutes. This allows for faster transaction times. Ethereum does this by using the Ghost protocol.
- Ethereum has a slightly different economic model than Bitcoin – Bitcoin block rewards halve every 4 years while Ethereum releases the same amount of Ether each year ad infinitum.
- Ethereum has a different method for costing transactions depending on their computational complexity, bandwidth use and storage needs. Bitcoin transactions compete equally with each other. This is called Gas in Ethereum and is limited per block while in Bitcoin, it is limited by the block size.
- Ethereum has its own Turing complete internal code. Turing-complete code means that given enough computing power and enough time anything can be calculated. Bitcoin does not have this form of flexibility.
- Ethereum was crowdfunded while Bitcoin was released and early miners own most of the coins that will ever be mined. With Ethereum 50% of the coins will be owned by miners in year five.
- Ethereum discourages centralized pool mining through its Ghost protocol rewarding stale blocks. There is no advantage to being in a pool in terms of block propagation.
- Ethereum uses a memory hard hashing algorithm called Ethash that mitigates against the use of ASICS and encourages decentralized mining by individuals using their GPU’s.
For the Morpheus Network, the choice was obvious to use the Ethereum-based ERC20 tokens. Any Ethereum wallet (Myetherwallet, Ledger Nano Units, etc) will be able to accept and store the Morpheus Network token.
The Ethereum blockchain is in many ways similar to the Bitcoin blockchain, although it does have some differences. The main difference between Ethereum and Bitcoin with regard to the blockchain architecture is that, unlike Bitcoin, Ethereum blocks contain a copy of both the transaction list and the most recent state. Aside from that, two other values, the block number and the difficulty, are also stored in the block. The basic block validation algorithm in Ethereum is as follows:
- Check if the previous block referenced exists and is valid.
- Check that the timestamp of the block is greater than that of the referenced previous block and less than 15 minutes into the future
- Check that the block number, difficulty, transaction root, uncle root and gas limit (various low-level Ethereum-specific concepts) are valid.
- Check that the proof of work on the block is valid.
- Let S be the state at the end of the previous block.
- Let TX be the block’s transaction list, with n transactions. For all i in 0…n-1, set S[i+1] = APPLY(S[i],TX[i]). If any application returns an error, or if the total gas consumed in the block up until this point exceeds the GASLIMIT, return an error.
- Let S_FINAL be S[n], but adding the block reward paid to the miner.
- Check if the Merkle tree root of the state S_FINAL is equal to the final state root provided in the block header. If it is, the block is valid; otherwise, it is not valid.
The approach may seem highly inefficient at first glance, because it needs to store the entire state with each block, but in reality efficiency should be comparable to that of Bitcoin. The reason is that the state is stored in the tree structure, and after every block only a small part of the tree needs to be changed. Thus, in general, between two adjacent blocks the vast majority of the tree should be the same, and therefore the data can be stored once and referenced twice using pointers (ie. hashes of subtrees). A special kind of tree known as a “Patricia tree” is used to accomplish this, including a modification to the Merkle tree concept that allows for nodes to be inserted and deleted, and not just changed, efficiently. Additionally, because all of the state information is part of the last block, there is no need to store the entire blockchain history – a strategy which, if it could be applied to Bitcoin, can be calculated to provide 5-20x savings in space.
A commonly asked question is “where” contract code is executed, in terms of physical hardware. This has a simple answer: the process of executing contract code is part of the definition of the state transition function, which is part of the block validation algorithm, so if a transaction is added into block B the code execution spawned by that transaction will be executed by all nodes, now and in the future, that download and validate block B.
In general, there are three types of applications on top of Ethereum. The first category is financial applications, providing users with more powerful ways of managing and entering into contracts using their money. This includes sub-currencies, financial derivatives, hedging contracts, savings wallets, wills, and ultimately even some classes of full-scale employment contracts. The second category is semi-financial applications, where money is involved but there is also a heavy non-monetary side to what is being done; a perfect example is self-enforcing bounties for solutions to computational problems. Finally, there are applications such as online voting and decentralized governance that are not financial at all.
On-blockchain token systems have many applications ranging from sub-currencies representing assets such as USD or gold to company stocks, individual tokens representing smart property, secure unforgeable coupons, and even token systems with no ties to conventional value at all, used as point systems for incentivization. Token systems are surprisingly easy to implement in Ethereum. The key point to understand is that a currency, or token system, is just a database with one operation: subtract X units from A and give X units to B, with the proviso that (i) A had at least X units before the transaction and (ii) the transaction is approved by A. All that it takes to implement a token system is to implement this logic into a contract.
The basic code for implementing a token system in Serpent looks as follows:
def send(to, value):
if self.storage[msg.sender] >= value:
self.storage[msg.sender] = self.storage[msg.sender] – value
self.storage[to] = self.storage[to] + value
This is essentially a literal implementation of the “banking system” state transition function described further above in this document. A few extra lines of code need to be added to provide for the initial step of distributing the currency units in the first place and a few other edge cases, and ideally a function would be added to let other contracts query for the balance of an address. But that’s all there is to it. Theoretically, Ethereum-based token systems acting as sub-currencies can potentially include another important feature that on-chain Bitcoin-based meta-currencies lack: the ability to pay transaction fees directly in that currency. The way this would be implemented is that the contract would maintain an ether balance with which it would refund ether used to pay fees to the sender, and it would refill this balance by collecting the internal currency units that it takes in fees and reselling them in a constant running auction. Users would thus need to “activate” their accounts with ether, but once the ether is there it would be reusable because the contract would refund it each time.
FINANCIAL DERIVATIVES AND STABLE-VALUE CURRENCIES
Financial derivatives are the most common application of a “Smart Contract”, and one of the simplest to implement in code. The main challenge in implementing financial contracts is that the majority of them require reference to an external price ticker; for example, a very desirable application is a Smart Contract that hedges against the volatility of ether (or another cryptocurrency) with respect to the US dollar, but doing this requires the contract to know what the value of ETH/USD is. The simplest way to do this is through a “data feed” contract maintained by a specific party (eg. NASDAQ) designed so that that party has the ability to update the contract as needed, and providing an interface that allows other contracts to send a message to that contract and get back a response that provides the price.
Given that critical ingredient, the hedging contract would look as follows:
- Wait for party A to input 1000 ETH.
- Wait for party B to input 1000 ETH
- Record the USD value of 1000 ETH calculated by querying the data feed contract, in storage, say this is $x.
- After 30 days, allow A or B to “reactivate” the contract in order to send $x worth of ether (calculated by querying the data feed contract again to get the new price) to A and the rest to B.
Such a contract would have significant potential in crypto-commerce. One of the main problems cited about cryptocurrency is the fact that it’s volatile; although many users and merchants may want the security and convenience of dealing with cryptographic assets, they may not wish to face that prospect of losing 23% of the value of their funds in a single day. Up until now, the most commonly proposed solution has been issuer-backed assets; the idea is that an issuer creates a sub-currency in which they have the right to issue and revoke units, and provide one unit of the currency to anyone who provides them (offline) with one unit of a specified underlying asset (eg. gold, USD). The issuer then promises to provide one unit of the underlying asset to anyone who sends back one unit of the crypto-asset. This mechanism allows any non-cryptographic asset to be “uplifted” into a cryptographic asset, provided that the issuer can be trusted.
In practice, however, issuers are not always trustworthy, and in some cases the banking infrastructure is too weak, or too hostile, for such services to exist. Financial derivatives provide an alternative. Here, instead of a single issuer providing the funds to backup an asset, a decentralized market of speculators, betting that the price of a cryptographic reference asset (eg. ETH) will go up, plays that role. Unlike issuers, speculators have no option to default on their side of the bargain because the hedging contract holds their funds in escrow. Note that this approach is not fully decentralized, because a trusted source is still needed to provide the price ticker, although arguably even still this is a massive improvement in terms of reducing infrastructure requirements (unlike being an issuer, issuing a price feed requires no licenses and can likely be categorized as free speech) and reducing the potential for fraud.
A Token Sale is a new way to help innovative companies raise funds. During a Token sale, companies issue coins or tokens which could represent anything from rights to access or license a company’s system, rights to sell the products of a company’s system, equity interest in a company, or simply a right to use a company’s system and outputs. This is a powerful shift where anyone in the world can acquire certain rights in a company regardless of their wealth or status. Token sales allow anyone and everyone to build assets and have a form of ownership in companies they support.
We are currently in consultation with Brian Taylor from Deloitte LLP finalizing the Morpheus Network Token Sale specifications including token and fund distribution.
Token presale will commence on February 23th, 2018.
Notice: The information contained above does not constitute financial or securities/investment advice. The above returns are for illustrative purposes only and do not reflect the potential return in any Morpheus Network related coin or token offering. Returns in any Token Sale are not guaranteed.
TRANSPARENCY – MORPHEUS NETWORK AND THE ETHEREUM BLOCKCHAIN
All funds collected during the presale and Token Sale (ETH, ETC, BTC, LTC, etc..) will be converted to Ethereum and deposited in a secure, multi-sig wallet. Several officials in the Morpheus Network Executive team, as well as advisory board members from Deloitte LLP, TD Canada Trust and the Toronto General & Western Hospital Foundation will hold the keys to the multi-sig wallets. There will also be an online ledger for investors showing how all the funds from the crowdsale will be used for full transparency.
ETHEREUM ERC20 TOKEN
The choice was obvious to use the Ethereum based ERC20 tokens for the Morpheus Network for several key factors:
Any ether wallet can accept the Morpheus token (Myetherwallet, Ledger Nano Units, etc..)
ERC20 tokens rely on the trustworthy Ethereum platform for added security and predictability over a newly established blockchain network
Ethereum is perfect for our smart contract services
SMART CONTRACTS USING THE MORPHEUS NETWORK
Financial derivatives are the most common application of a “Smart Contract”, and one of the simplest to implement in code. The main challenge in implementing financial contracts is that the majority of them require reference to an external price ticker; for example, a very desirable application is a smart contract that hedges against the volatility of ether (or another cryptocurrency) with respect to the US dollar, but doing this requires the contract to know what the value of ETH/USD is. The simplest way to do this is through a “data feed” contract maintained by a specific party (eg. NASDAQ) designed so that that party has the ability to update the contract as needed, and providing an interface that allows other contracts to send a message to that contract and get back a response that provides the price.
Smart contract would look as follows:
Wait for party A to input 1000 ETH.
Wait for party B to input 1000 ETH.
Record the USD value of 1000 ETH, calculated by querying the data feed contract, in storage, say this is $x.
After 30 days, allow A or B to “reactivate” the contract in order to send $x worth of ETH (calculated by querying the data feed contract again to get the new price) to A and the rest to B.
Of course, payments are only 1 important objective with a larger supply chain’s Smart Contract. Smart Contract technology allows steps within a company’s supply chain to be automated thus maximizing its efficiency. Automated objectives include contract generation (and storage and “permissioned” sharing), shipping and customs documentation generation (and storage and “permissioned” sharing), automated real-rate currency conversion, international payments , as well as layering in other technologies (tracking systems, ERP systems, bar code scans) to automate virtually any supply chain!
ETHEREUM TOKEN SYSTEMS
Token Systems – On-blockchain token systems have many applications ranging from sub-currencies representing assets such as USD or gold to company stocks, individual tokens representing smart property, secure unforgeable coupons, and even token systems with no ties to conventional value at all, used as point systems for incentivization. Token systems are surprisingly easy to implement in Ethereum. The key point to understand is that a currency, or token system, is just a database with one operation: subtract X units from A and give X units to B, with the proviso that (i) A had at least X units before the transaction and (ii) the transaction is approved by A. All that it takes to implement a token system is to implement this logic into a contract.)
The Morpheus tokens can be used to send international transfers and hold value themselves. The tokens can be used as a part of a complex, automated import/export system that incorporates manufacturing / work contract payments following completion of Smart Contract objectives.
For more details please visit our Roadmap Page.
MORPHEUS PROJECT CHARTER
The project charter defines the scope, objectives, and overall approach for the work to be completed. It is a critical element for initiating, planning, executing, controlling, and assessing the project. It should be the single point of reference on the project for project goals and objectives, scope, organization, estimates, work plan, and budget. In addition, it serves as a contract between the Project Team and the Project Sponsors, stating what will be delivered according to the budget, time constraints, risks, resources, and standards agreed upon for the project.
An agile approach to project management will be utilized. This provides for high levels of visibility and understanding at all stages of the development process.
Throughout a given project, we will continue to work closely with all stakeholders to ensure that services will be carried out in accordance with the project plan and timeline. Status will be communicated on a regular basis.
What steps will you take to ensure that quality is built into the production processes?
Will the test team work from a Test Plan?
Test plans will be utilized
What will you measure to determine if the project is out of scope?
The measurement mechanism for scope is project change requests. Schedule and budget show the impact of change to the project.
What will you measure to determine if the project is within budget?
The measurement mechanism for budget is variance between target cost and forecast cost.
What will you measure to determine if the project is within schedule?
The measurement mechanism for schedule is variance between target date and forecast date.
o Project requirements met
o Project delivered on time
o Project within budget
o Project delivered within scope
MORPHEUS BUSINESS CASE COMPLETION CHECKLIST
Most organizations have some form of business case template, but those focus on standardizing the information that is captured in the business case itself in order to make comparison of proposals easier. This checklist is intended to be a tool for various Morpheus Network departments to complete business cases in order to help ensure that all factors have been considered.
Not all of these will necessarily apply to every aspect of the project, but all business case writers should at least consider each of these elements—and, if necessary, provide information in the business case to address. Note that not all of these items need documented solutions in the business case, but if detailed information/solutions are not available, then the plan to address should be outlined (and the costs and risks associated with that plan).
Does initiative align with one or more strategic priorities?
If not, is project required for other reasons (keep the lights on, compliance, etc.)?
Have benefit groups been identified and confirmed with other stakeholders?
Have capital costs been considered?
Have operating costs been considered (for project)?
Have ongoing year-by-year costs been considered?
Have indirect costs been considered (e.g. revenue lost in other products)?
Have year-by-year benefits been identified (do not assume benefits will be stable year over year)?
Has duration of benefits been considered?
Do we have enough people?
If not, can we hire/procure?
Do we have the right skills?
If not can we train hire/procure?
Have major risks been identified (focus on strategic)? More info below
Has a high-level planning estimate been completed for risk impacts and likelihoods of occurring?
Have possible management/contingency plans been considered?
Has high-level scope been clearly defined?
Have client stakeholder groups/representatives reviewed and approved scope?
Have major dependencies (on other projects, vendors, departments, etc.) been identified?
Are business cases for dependent initiatives cross-referenced?
Does the business case read well?
Are all likely questions addressed?
Is business case an objective proposal (rather than a sales pitch)?
MORPHEUS RISK ASSESSMENT PROCEDURE
Project risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives such as scope, schedule, cost and quality. A risk may have one or more causes and, if it occurs, it may have one or more impacts.
All risks are evaluated based on impact and probability of occurrence. Response plans are required to reduce threats to project objectives.
- External Risks: Risks from third party vendors, service providers, alliances, external market, political, social, cultural, and environmental factors
- Technological Risks: Risks arising from unstable technology
- Stakeholder Risks: lack of support, management failure, organizational structure
- Regulatory Risks: Non Compliance with rules, regulations and policies
- Project Execution Risks: Risks arising due to lack of resources, poorly managed project scope, non-commitment of management
- Legal Risks: Non Compliance with applicable laws, ethical standards
- Release Risks: Risks arising due to failure in delivery of products and services
- Reputation Risks: Risks from negative customer experience, feedback, perception to the organization reputation in the market
RISK DESCRIPTION: Provide risk elements associated with specific risk classification
IMPACT SEVERITY: Provide the impact severity from 1 – 5, with 5 being the highest impact and 1 the smallest impact:
- Little or no impact
- Minor impact
- Moderate impact
- Significantly impacted
- Highest impact
RISK PROBABILITY: Determine the probability the risk will occur. Provide the probability 1 – 5 with 5 being the highest and 1 the smallest probability:
- <= 10%
- >= 10%
- > 25%
- > 50%
- > 75%
RISK SCORE: Impact x Probability
RESPONSE PLAN: Plan risk response based on the risk score. Base plan as Correction Plans, Prevention Plans and Warning Plans.
TEAMDanny Weinberger, Co-Founder & CEO, Morpheus.Network
15+ Years Experience in Global Trade
Noam Eppel, Co-Founder & COO, Morpheus.Network
15+ Years Experience In Web Development & Information Security
Nikhil Sethi, Director of Marketing, Morpheus.Network
Vignesh Iyer, Blockchain Solutions & Evangelist, Morpheus.Network
Priyanka Pareek, Blockchain Solution Architect, Morpheus.Network
Priyank Sharma, Blockchain Solutions, Morpheus.Network
Pravin Tambe, Blockchain Delivery Manager, Morpheus.Network
Vijayta Bhatt, Lead Blockchain Developer, Morpheus.Network
Shubham Luthra, Marketing, Morpheus Network
Zheng Xu, Product Development & Asian Integration, Morpheus.Network
Matthew Burgoyne, Legal Counsel, Morpheus.Network
Ryan Franzen, Legal Counsel, Morpheus.Network
Grant Gulovsen, Legal Counsel, Morpheus.Network
Andrey Romanov, Marketing, Morpheus.Network
Pavel Nedzvedz, Marketing & Design, Morpheus.Network
Polina Kosh, Marketing & Design, Morpheus.Network
Shusuke Yoshihara, Marketing, Morpheus.Network
Crypto Kitty, Director of Meow, Morpheus.Network
AdvisorsRoger Crook, Lead Advisor for Global Logistics, Morpheus.Network
Jonathan Lucas, Fundraising, Morpheus.Network
Max Rive, International Relations, Morpheus.Network
Gaurav Sharma, Global Trade & Finance, Morpheus.Network
Benny Pereira, International Logistics & Compliance, Morpheus.Network
Donna Stoppard, Platform Development, Morpheus.Network
Brian Taylor, Fund Distribution & Tax Compliance, Morpheus.Network
Daniel Eidan, Software Solutions, Morpheus.Network
Giorgi Danelia, Global Trade & Finance, Morpheus.Network
Hagai Maidenberg, Marketing & Product Development, Morpheus.Network
William Liu, SWIFT Connection Advisor, Morpheus.Network
Anubhav Nagpal, Global Trade & Finance, Morpheus.Network
FAQWhat is the Morpheus.Network?
The Morpheus.Network was designed in consultation with some of the world's largest shipping, customs & banking firms to create a full-service, global, automated, supply chain platform with an integrated cryptocurrency payment system utilizing blockchain technology. (more…)Why is global supply chain an ideal application for our blockchain platform?
The World Bank has defined supply chain inefficiencies as the #1 world problem to solve in order to stimulate economic growth. To be successful in global trade, every firm needs to run efficiently. Smart Contract technology allows steps within a company's supply chain to be automated thus maximizing its efficiency. To complete a transaction properly, the objectives within a Smart Contract need to be triggered with precise accuracy when it comes to international customs compliance and in a timely fashion. The Morpheus Network allows globally transacting companies to take advantage of a Smart Contract structure for their supply chain. Additionally, the real rate currency conversions and automated international payments further enables the Morpheus Network to automate virtually any supply chain!Who can use the Morpheus.Network?
The Morpheus Network can be used by virtually anyone. A wallet is created for you when you complete your registration on the easily operated platform. Any purchase can be made by a buyer, from a small transfer within the Morpheus Network, to a complicated Smart Contract setup involving an international money transfer involving currency conversions and exportation documentation. Merchants, manufacturers and exporters can register on the network for greater global exposure, along with all the added benefits of using the Morpheus Network over a traditional bank wire transfer (preferred conversion rates, drastically reduced transaction fees, added security of the network, over 30% of proceeds back to Morpheus token holders, ease of distribution of shipping documentation and more).Who is on the Morpheus.Network Team?
Our team possesses expertise in the proper and specific fields, from a functional perspective, to make the Morpheus.Network run as smoothly and safely as possible. This includes team proficiency in importing and exporting (shipping and compliance), web and blockchain security, banking platforms, tax accounting and Smart Contract law. Please read more about our team here.How does Morpheus.Network maintain data confidentiality?
We don’t believe any one company should own or control the blockchain supply chain. We believe in interoperability and partnerships over competition. One of the most exciting properties of Morpheus.Network is the ability to connect disparate ecosystems - and competitors - onto a common platform. However, there are privacy and confidentiality concerns as companies using a single blockchain would be sharing sensitive data around trading partners, shipping patterns and volumes which can become available to competitors through their participation in the network. Morpheus.Network builds on innovative zk-snark technology. This enables the confirmation of every transaction of physical goods in the chain of custody, so that a connected record of provenance can be maintained, without any of the players upstream or downstream of the transaction having access to information not related to that specific transaction. Morpheus.Network is a solution with the power to meet the industry’s security and privacy requirements and serve as a backbone for an open supply chain network with full data privacy built on a decentralized blockchain infrastructure. Related FAQ: How is Morpheus Network Secure?How is Morpheus.Network Secure?
Morpheus Network utilizes a Permissioned Blockchain which provides a hybrid between the ‘lower-trust’ model of Public blockchains and the ‘single highly-trusted entity’ model of Private blockchains. The Morpheus Network Permissioned Blockchain maintains the privacy of user’s data, without consolidating power with a single organization. A trusted Morpheus Network Consortium will be established to control access to the blockchain and will play a role in maintaining the blockchain in a decentralized manner. Document records on the blockchain can be accessed only by authorized participants; this can be all participants or only those that need a particular portion of the data. Document ownership and access can be anonymous yet securely identified between partners who require verification. In short, it can be widely shared and protected at the same time. Documents are stored in an off-chain container which allow Morpheus Network Smart Contracts to harness the full power of the blockchain's capabilities while protecting private data. This ensures the correct balance of privacy and transparency. One feature of blockchains is data immutability; once data has been written to a blockchain no one, not even a system administrator, can change it. This benefits the Morpheus Network users by creating a secure audit trail of all documents and transactions to ensure compliance with local regulations. Noam Eppel, one of our founding team members, has a specialty in information security, having run a successful security company for 5 years. He has taught web security at a college in Toronto and created an online security course used by companies across North America. He has also provided security consulting services on behalf of leading technical companies including IBM. Additionally, to help secure funds raised during the pre-sale and ICO periods, all funds will be converted to Ethereum and stored in a multi-signature wallet. A multisig wallet is a technique that requires multiple people to approve of the release or transfer of funds. The multisig wallet keys will be held by founders of the Morpheus Network team as well as members of the advisory board from companies including Deloitte LLP, TD Canada Trust and Toronto General & Western Hospital Foundation. Related FAQ: How does Morpheus Network maintain data confidentiality?How is the Morpheus.Network able to provide faster, cheaper and more secure payment processing than the banking system?
The key to the Morpheus Network’s speed is blockchain technology. The network allows peer to peer transactions in a single step, as opposed to involving a centralized banking system, slowing down any transaction dramatically, as well as increasing total cost due to banking fees and non-optimal currency conversion rates. The Morpheus Network solves these issues with the banking system, converting funds with real world rates using the power of the blockchain technology, and incorporating only a single, small Morpheus Network fee of 1%. Funds can be kept in the Morpheus Network, or, using the platform's integration with SWIFT, deposited directly into a receiver's bank account in their local currency in over 200 countries.What KYC information will need to be provided to participate in the Token Sale?
The token sale is open to everyone except residents of North Korea, Syria, Iran, Sudan, Bangladesh, Bolivia, Kyrgyzstan, Canada, United States & China. Verification of country of residence will be required to participate. Further details and instructions will be provided prior to the start of the token sale. Our KYC partner is Sumsub.com. Every contributor will received an email with KYC instructions shortly after a contribution is made.What KYC information will have to be provided to use the Morpheus.Network?
The Morpheus.Network is using the same standard protocol used by international banks. We are advised by Donna Stoppard, of TD Canada Trust, on the necessary KYC information required to comply with global standards for sending international payment transfers in regards to money laundering, terrorism or other illegal activities associated with the transfer of funds. The platform is intended to be used by the global trade industry, and we are taking every precaution to make sure the intention is fulfilled completely and lawfully.How is “AI” being utilized to optimize an supply chain’s efficiency?
Artificial intelligence (AI) is utilized in a supply chain by gathering vast amounts of logistical data off of the blockchain. These findings allow container shipping ports to be planned and routed in advance and as necessary based on global traffic, port delays, weather as well as many other factors and sources of data. AI is also being used to prepare compliance documentation for an import, generated by the Morpheus Network, by more accurately estimating port arrival times.What if I’m new to importing or exporting?
The Morpheus Network aims to make importing and exporting effortless from your very first transaction. We offer full templated shipping and customs documentation. Your Smart Contract transaction will be arranged creating your company’s own templated documentation. These templates will be used for all future shipments in that same lane, with the variable being the specific container/bill of lading numbers pertaining to the shipment at hand. All this information will be permanently and immutably stored in the Morpheus Network. Tutorials can be arranged in any language. 99.9% of your time dealing with a new supplier using the Morpheus Network will be taken up arranging your Smart Contract for your supply chain. We would assist in setting up the shipping and customs documentation as well as providing you local customs brokers and shipping agents who can use the Morpheus Network with the permission settings you establish. Using the power of Smart Contracts, all your transactions, in any currency, to anywhere in the world, will be AUTOMATED with the completion of your Smart Contract objectives. Complex importing and exporting made effortless.How does the Morpheus.Network digitize original documentation?
Using the power of blockchain technology, shipping documentation (bill of lading, commercial invoices, packing lists, insurance documents, etc.) will be digitized and shared securely and conveniently between the exporter, the receiving importer and any freight forwarders and customs brokers who have been given access in the permission settings. The layering of Storj, a blockchain data storage technology, is where any original documentation with specific notation or markings will be stored and accessed through a corresponding encrypted hash on the Morpheus.Network blockchain as a part of a Smart Contract. These digital documents will all link to the original work contract and payment. Once a document is added to the blockchain, it cannot be altered, which is the key component in digitizing original documents, revolutionizing the import/export industry. No more courier services required to send documents around the world. No more delays due to late or lost documentation. This is a major disruptive technology in the import and export industry.How does the Morpheus.Network rating / claims system work?
Whenever a transaction is completed, the exporter (or seller) and the importer (or buyer) will automatically leave feedback based on the Smart Contract details. The length of time of manufacturing by an exporter or any delays completion of any of the Smart Contract objectives will all be recorded on the blockchain in the dated details of any particular transaction. This info will be added permanently to the blockchain and will refer back to the individual seller or buyer involved and to the specific transaction the rating refers to. Thus, the rating system cannot be influenced by any factors aside from statistics of a completed Smart Contract. Furthermore, since the Morpheus Network is not a sales marketplace in itself, no matter if the seller and buyer interact using Alibaba, Amazon, eBay, Chinaexporter.com or directly without an online marketplace, rating system remains with the Morpheus Network client based on the actual payment and full Smart Contract details. All the ratings will be encrypted on the blockchain to the highest level of security for privacy reasons, but fully available to Morpheus Network perspective buyers and sellers. This system also incorporates claims for disputes that may arise in a particular transaction. If a solution cannot be reached for any given dispute, an independent arbitrator will be appointed to form a fair and unbiased resolution.Do I need to use the Morpheus.Network to receive payment from, or send payment to a seller or buyer who is already using the Network?
We recommend using the Morpheus.Network for all the steps of your transaction and Smart Contract. We provide the highest level of security using buyer’s local fiat currency to be deposited into the seller’s bank account to over 1600 banks worldwide with our SWIFT integration. That being said, each part of the transaction can be segregated (e.g. using only the payment processing, or the digitization of documents, aspects of the network) allowing the Morpheus.Network to accept or send payments from, or to, any Ethereum based wallet or directly into a bank account based on the Smart Contract criteria. In addition, other blockchain technologies (such as Walton, Sia, Filecoin, Ripple) can also be implemented into a Smart Contract as their own objective. This allows tremendous versatility when using the Morpheus.Network.Are there any advantages to holding the Morpheus tokens?
Of course! You can not only use the token for its value based utility but also use the token to access to the automation platform through the newly lowered fee structure. This will also accelerate getting the utility token listed on exchanges, as well.Can a merchant or a token holder exchange the Ethereum based token for traditional fiat currency?
Yes they can. The Morpheus Network allows fiat currencies to be deposited directly into bank accounts similarly to how a bank wire transfer would be received, but skipping the banking fees and avoiding the loss due to conversion. A merchant can also withdraw funds from their Morpheus Network wallet, converted to their local currency and deposit directly in their bank account.How does the Morpheus.Network automate any supply chain?
Smart Contract technology allows steps within a company's supply chain to be automated thus maximizing its efficiency. Automated objectives include contract generation (and storage and "permissioned" sharing), shipping and customs documentation generation (and storage and "permissioned" sharing), automated real-rate currency conversion, international payments , as well as layering in other technologies (tracking systems, ERP systems, bar code scans) to automate virtually any supply chain!If one supplier wanted to use Morpheus, but his suppliers aren’t interested then he has no incentive to start using it, right?
You can take advantage of the Morpheus platform to automate your own company’s supply chain regardless of your supplier’s use of the platform. All the blockchain advantages also apply such as an immutable ledger of your company’s shipping info, payment history etc. With our SWIFT integrated payment system, you can send funds from whatever currency you use directly into the bank account of your supplier. All the benefits of the platform will incentivize your suppliers to automate their own supply chain while saving money. We’re also working with some amazing customs brokers, freight forwarders and shipping companies to increase the rate of adoption. Ultimately suppliers and distributors would use the Morpheus Network to be a part of an automated global trade ecosystem.Where are you located?
The Morpheus executive team and developers are based primarily in Canada, Taiwan and India with the company registered in Seychelles. Our team and advisors are distributed around the globe in countries including United States, Russia, Japan, Philippines, Singapore and Belarus.What is your post-Token Sale business plan?
Implementation of the Morpheus Network is overviewed by Donna Stoppard who is also a Project Manager and Piloter for TD Canada Trust. Donna is advising the Morpheus Team with the most advanced and rigorous platform testing prior to live activation. Here is a breakdown of the platform testing and eventual wide release: STAGE 1 – Sample testing – Templates for IMPORT/EXPORT companies – SIT = system integration testing – typically the first type of testing and is completed in a “lower” environment. It’s ensuring the blockchain code and Morpheus Network platform will be integrated to create an end user friendly interface. At this testing stage, the platform is not live, but simply verifies that the technology built (code, logic etc.) is functioning as expected. BAT = business acceptance testing – completed after SIT is complete and all the SIT defects that have been identified during SIT are fixed. BAT is for the Business. SIT tests the technology (eg. logic behind the scenes), and BAT tests the business related specifications (eg. checking that mandatory fields have an asterisk, and that proper error messages appear if a mandatory field is left blank.) BAT is also completed in the “lower environment”. STAGE 2 – Performance testing – Simulated real-world transactions PCOE = Performance testing – completed in a production environment. PCOE tests the performance of the Morpheus Network. What can cause the system to crash? What can bog the speed of the network? Each factor will be taken into account during the PCOE testing phase. Complicated Smart Contract transactions will be simulated and accomplished. PAT = production acceptance testing – this is the final stage of testing that is completed and is done in a production environment, but the network would still inactive during this testing phase. Testing is completed to ensure there are no defects when promoting the code from a lower level to a production environment and the performance and expectations for all test case are as expected. After the PAT testing is completed, the Morpheus Network will be activated! STAGE 3 – Limited Network Release – Real-world transactions We currently have import & export companies to test the network in 4 countries (USA, China, Canada and Mexico). The next step is testing integration to the EU, South America, Russia and to the rest world. STAGE 4 – Full global network activation STAGE 5 – Continued growth and scaling managementWhat is the function of the Morpheus Token?
The Morpheus Token (MORPH) powers the Morpheus Network. The token is a “value” based utility. The Network’s Microsoft Dynamics 365 ERP system is integrated with SWIFT for direct international payments. The Morpheus Tokens can be attained converting from virtually any fiat currency, or over 74 different cryptocurrencies directly through the platform and our Shapeshift integration. The tokens give users access to the Morpheus Network. A crucial objective in a Smart Contract of any global supply chain are international payments. The Morpheus Token’s value is based on the real time financial derivative of the currency needed to complete a payment as a Smart Contract’s objective. Our integration with SWIFT allows us to send payments directly into the bank account of over 1600 banks globally in the specific currency required (fiat or cryptocurrency) by the Smart Contract.What is the minimum and maximum contributions for the token sale?
The minimum contributions per investor for the presale is 0.1 ETH. The maximum contributions per investor for the first 24 hours of the presale is 360 ETH. After the first 24 hours, the maximum contribution is 540 ETH per 24 hours.What forms of contributions do you accept?
We accept and recommend contributions in Ethereum. However, we have integrated with Shapeshift so we accept a large number of alternative tokens (For example: Neo, Bitcoin, Litecoin, Dash, EOS, Ripple, etc.)Will shipments be tracked for progress when using the Morpheus.Network for international trade?
Morpheus is designed to track imports, exports and location of shipments in real-time facilitated by the blockchain. No matter which objective is being completed, the Morpheus.Network will be able to use the Smart Contract to keep track of the whereabouts of any shipment anywhere in the world. Extra tracking capabilities can be implemented such as Waltonchain barcode scans when certain shipping points are reached.How is the value of Ethereum and other tokens determined for the contribution?
Ethereum and other tokens are determined by the financial derivative of the USD value using the Coinmarketcap.com API. This information is updated every 5 minutes.What happens to any unsold MORPH tokens after the token sale has been completed?
In the event there are any unsold tokens after the token sale pool, all of those tokens will be burned.Explain the Morpheus.Network Token Sale hard cap?
When the hard cap is reached, we will no longer accept any more contributions. All the Morpheus.Network tokens have been distributed, so additional transactions will be returned to the senders. Additionally, any unsold tokens will be burned / disposed. This means that no additional Morpheus.Network tokens will ever be created or distributed after Token Sale concludes.When and how will I receive my MORPH token?
Distribution of MORPH Tokens will take place 28 days after the end of the token sale. You will be able to receive your purchased MORPH Tokens to any ERC20 compatible Ethereum wallet.What is the token distribution for the soft cap minimum?
3,600,000 MORPH tokens to contributors (1.8 million USD - tokens unlocked) 12,000,000 MORPH tokens to founding team (tokens locked for 18 months) 3,000,000 MORPH tokens for advisory team (tokens locked for 6 months) 3,350,000 MORPH tokens for strategic partners (tokens locked for 6 months)What is the token distribution for the hard cap maximum?
72,000,000 MORPH tokens to contributors (36 million USD - tokens unlocked) 9,650,000 MORPH tokens for bounty & bonuses (tokens unlocked) 12,000,000 MORPH tokens to founding team (tokens locked for 18 months) 3,000,000 MORPH tokens for advisory team (tokens locked for 6 months) 3,350,000 MORPH tokens for strategic partners (tokens locked for 6 months)
- Morpheus Network Platform. Morpheus Network has developed a decentralized platform (the “Morpheus Network Platform” or “Platform”) that stores information about an individual and his/her interests and activities (collectively, “Platform Data”) using blockchain technology. Users of the Platform may access and use the Platform Data, and the Platform enables certain mechanisms for you to control the disclosure and use of your Personal Data. The Platform Data is collected and stored in the Platform by individual data providers (“Data Providers”). “Third-Party Services” means apps, applications or services created by Data Providers or other third parties to collect, store, extract, or use Platform Data, or to otherwise interact with Platform Data or Morpheus Network Services.
- Collection of Usage Information. Our systems automatically record certain information about how a person uses Morpheus Network Services (we refer to this information as “Usage Information”), including both Account holders and non-account holders. Usage Information may include information such as a user’s Internet Protocol (IP) address, location, domain name, referring web page, device and browser type, operating system, device settinags, the pages or features of Morpheus Network Services to which a user browsed and the time spent on those pages or features, frequency with which Morpheus Network Services are used by a user, search terms, the features and links on Morpheus Network Services that a user clicked on or used, and other statistics. We use this information to administer and provide Morpheus Network Services and we analyze (and may engage third parties to analyze) this information to provide, improve and enhance Morpheus Network Services and to tailor them to our users’ needs and preferences. Usage Information does not, in and of itself, identify you personally, but we may link it to Personal Data for Account holders.
- Service Data. We may collect and record information relating to the setup, general performance, usage, and operation of Morpheus Network Services, including data that an Offering or App records. We may store this data along with your Personal Data and other information about your use of Morpheus Network Services. We use this information to allow you (and us) to operate and monitor Morpheus Network Services. We may use third-party analytics providers, including Google® Analytics, in connection with collecting and analyzing information about usage of Morpheus Network Services.
- Location and Mobile Data. When you use certain features of Morpheus Network Services, in particular our Offerings or Apps, we may receive, store and process different types of information about your location, including general information (e.g., IP address, zip code), diagnostic information, and direction of travel, and more specific GPS location information that is provided to us by your mobile device.
- Use of Personal Data. We use Personal Data for the following purposes: (i) to facilitate your purchase and use of the Morpheus Network Services; (ii) to provide content, products and services you authorize; (iii) to transfer funds associated with your use of Morpheus Network Services; (iv) to provide, administer and improve Morpheus Network Services; (v) to better understand your needs and interests; (vi) to personalize your experience; (vii) to provide Morpheus Network Service announcements and communicate with you regarding Morpheus Network Services; (viii) to provide you with further information and offers from Morpheus Network or its affiliates; (ix) to administer rewards, surveys, sweepstakes, contests, or other promotional activities or events sponsored or managed by Morpheus Network or its affiliates; (x) to respond to respond to comments, questions or support requests; and (xi) to comply with our legal obligations, resolve disputes with users, enforce our agreements and to protect, investigate and deter against fraudulent, harmful, unauthorized or illegal activity. We may combine the Personal Data we collect with publicly available information and information we receive from our business partners and other third parties, including Data Providers and providers of Third Party Services.
- Platform Users: We may share your Personal Data with any Third Party Services or users of the Platform whom you have authorized to receive, access or use your Personal Data, including those Third Party Services and Platform users who are allowed to access your Personal Data through the authorization mechanisms and settings built into the Platform or Morpheus Network Services.
- Our Service Providers. We may employ third party companies and individuals to administer and provide Morpheus Network Services on our behalf and to fulfill requests and orders you may make (including maintenance, administration, support, hosting and database management services and billing and credit card payment processing). These third parties may have access to your Personal Data reasonably necessary to perform these tasks on our behalf and are obligated not to disclose or use it for other purposes.
- Special Cases. Morpheus Network cooperates with government and law enforcement officials and private parties to enforce and comply with the law. We will use, and disclose to government or law enforcement officials or private parties, such information about you as we, in our discretion, believe necessary or appropriate to respond to claims and legal process (including but not limited to subpoenas), to protect the property and rights of Morpheus Network or a third party, to enforce our legal agreements, to protect the safety of the public or any person, or to prevent or stop any activity we may consider to be, or to pose a risk of being, illegal, unethical, fraudulent, inappropriate or legally actionable.
- Corporate Transactions. In the event Morpheus Network or its affiliates or their assets are sold, merged or otherwise involved in a corporate transaction or bankruptcy, your Personal Data will likely be transferred as part of that transaction. We reserve to right to transfer your information without your consent in such a situation.
- Use of Aggregate and Non-Personally Identifying Information. Morpheus Network may anonymize, aggregate or de-personalize Personal Data and/or Usage Information to create non-personally identifiable information. Morpheus Network may freely disclose and use non-personally-identifying information for industry analysis, statistical purposes, demographic profiling, marketing and advertising, and other business purposes (which may include reporting on trends in the usage of its Apps, Sites or Morpheus Network Services).
- Marketing Messages. If you submit your email address or other contact information to us we may use this information to send you news about services, products or promotions of Morpheus Network and its affiliates. We may use one or more affiliates or service providers to administer these messages, but we do not share your email address with spammers or any other third parties for their own use without your permission. You may opt-out of receiving marketing-related e-mails from us by logging in and changing your Account settings or by using the opt-out method detailed in any message that you receive.
- Security. We use appropriate security measures consistent with industry practice to protect against the loss, misuse and alteration of your Personal Data under our control. However, no method of transmission over the Internet, or method of electronic storage, is 100% secure. Therefore, we cannot guarantee the absolute security of Personal Data. We will comply with all applicable privacy laws and make any legally required disclosures regarding breaches of the security, confidentiality, or integrity of Personal Data consistent with our ability to determine the scope of a breach and our obligations to law enforcement.
- Minors. The Sites and Morpheus Network Services are not directed to children under 13 and we do not knowingly collect Personal Data from children under 13. If you are under 13 years of age, then please do not use or access the Morpheus Network Services at any time or in any manner. If we learn that we have collected Personal Data of a child under 13 we will take steps to delete such information from our files as soon as possible.
- Changing or Deleting Your Information. You may review, update, correct or delete the Personal Data associated with your account by logging into your Account. If you wish to update or delete other Personal Data, you can contact us using the contact points specified below. We’ll take steps to modify or delete your Personal Data as soon as is practical, but some information may remain in archived/backup copies for our records or as otherwise required by law. Upon termination of your Account, we will retain all Personal Data only as long as necessary for to fulfill our obligations in connection with the Morpheus Network Services and for any period of time necessary to comply with applicable law, including any applicable statute of limitation.
- Your California Privacy Rights. Our Sites do not collect personally identifiable information about an individual user’s online activities across third party web sites (and thus do not monitor your browser’s Do Not Track indicator). We do not provide Personal Data collected by Morpheus Network to organizations for their own direct marketing purposes.
- International Transfer. Your information may be transferred to, and maintained on, computers located outside of your state, province, country or other governmental jurisdiction where the privacy laws may not be as protective as those in your jurisdiction. If you are located outside the United States and choose to provide information to Morpheus Network, please be advised that we transfer Personal Data to the United States and process it there (and possibly other countries). Your hereby consent to the transfer of your information and Personal Data in accordance with this section.
- Jurisdictional Issues. Morpheus Network makes no makes no representation that any Morpheus Network Service operates (or is legally permitted to operate) in all geographic areas, or that the Morpheus Network Services are appropriate or available for use in all locations. Accessing the Morpheus Network Services from territories where the Morpheus Network Services, or any content or functionality of the Morpheus Network Services or portion thereof, is illegal is expressly prohibited. If you choose to access the Morpheus Network Services, you agree and acknowledge that you do so on your own initiative and at your own risk and that you are solely responsible for compliance with all applicable laws.
TERMS AND CONDITIONS
TO BE ANNOUNCED ALONG WITH TOKEN SALE DETAILS – IN CONSULTATION WITH THE MORPHEUS NETWORK LEGAL TEAM
Morpheus.Network was designed in consultation with some of the world’s largest shipping, customs & banking firms to create a full-service, global, automated, supply chain platform with an integrated cryptocurrency payment system utilizing blockchain technology.